Combining Chase CL's

[Anonymous]

I have had my Feedom and then upgraded to FU for 13 months. I have a Slate as well. How long do I have to have the Slate to transfer the CL to my Chase FU? Can I even do this?

Thanks.

[blondy250]

Yes you can, I believe you needed a year. So you should be good.

[Anonymous]

There is no time requirement to transfer the limit from one Chase card to another.

[Anonymous]

Do they allow you to close the card (Slate)?

[Ghoshida]

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@Anonymous wrote:
Do they allow you to close the card (Slate)?

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You can transfer your CL whenever you want.

Chase can either allow a full transfer and close, a partial transfer and open, or a partial transfer (all but $500) and close.

If you want a full transfer and close, you must have a zero balance on the card being closed, and no transactions for the past 30 days.

If you want a partial transfer and keep the card open, there are no restrictions except that your current balance cannot exceed your revised credit limit on the Slate.

If you want a partial transfer (all but $500) and close, you must have a zero balance while closing. No restrictions on past transactions.

Credit reporting:

If you do a full transfer and close, the card you're moving limits to will show a CLI, while the card being closed will have no changes to its limit, but will show as closed by customer.

If you do a partial transfer and open, both cards will show changes (one going up and one going down) without explanations, and both will say paid as agreed.

If you do a partial transfer and close, the card you're moving limits to will show a CLI, and the card being closed will show a decreased limit ($500) and also will say closed by customer. 

Hope this helps.

Personal data points: Slate closed with full transfer. Southwest closed with partial transfer. CSP has partial transfers and kept open (and now converted to FU). 

[Anonymous]

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@Ghoshida wrote:

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@Anonymous wrote:
Do they allow you to close the card (Slate)?

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You can transfer your CL whenever you want.

Chase can either allow a full transfer and close, a partial transfer and open, or a partial transfer (all but $500) and close.

If you want a full transfer and close, you must have a zero balance on the card being closed, and no transactions for the past 30 days.

If you want a partial transfer and keep the card open, there are no restrictions except that your current balance cannot exceed your revised credit limit on the Slate.

If you want a partial transfer (all but $500) and close, you must have a zero balance while closing. No restrictions on past transactions.

Credit reporting:

If you do a full transfer and close, the card you're moving limits to will show a CLI, while the card being closed will have no changes to its limit, but will show as closed by customer.

If you do a partial transfer and open, both cards will show changes (one going up and one going down) without explanations, and both will say paid as agreed.

If you do a partial transfer and close, the card you're moving limits to will show a CLI, and the card being closed will show a decreased limit ($500) and also will say closed by customer. 

Hope this helps.

Personal data points: Slate closed with full transfer. Southwest closed with partial transfer. CSP has partial transfers and kept open (and now converted to FU). 

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Outstanding! Thank you very much.

[Anonymous]

Good info in this thread.

Slightly off topic question here.  If you apply for two Chase cards at the same time, do you get hit with double HPs or do they go off of one HP for the two accounts?  From what I understand, Chase cards are rather slow growers and for the most part you have to take a HP in order to achieve a CLI.  I'm wondering if an alternate strategy would be to apply for 2 Chase cards (the one you want and another than you don't really care about) and then transfer the limit from the one you don't want to the one you actually wanted.  If the original app for the 2 cards didn't result in double pulls, this could save an inquiry... of course at the expense of having another account on your report that lowers your AAoA. 

[Anonymous]

Good points. I got the Slate mainly just for that reason. I'm going to transfer 1K on it and pay it off in two months and close it and take the CL on my FU.

Now I could have requested a HP for a CLI on my FU. I don't think they would give me a $6200 CLI. They are to stingy. So I went this route.

To answer your question, it would be 2 separate HP's for 2 apps. I asked that question before I applied for my offers on my dashboard.

[EdMan63]

Good anwers in this thead. I'm actually considering closing my CSP next year as we are getting a business card for most of my travel. I would like to transfer my limit to my Freedom which I will PC to a FU.

[newhis]

@Ghoshida, great info. DW closed Freedom with no activity for more than 30 days, transfer the limit to CSP. All limit and Freedom report closed with the limit it had. I don't know if that matter much to other lenders. Maybe is worth the wait (30 days) to have a closed card with $3,000 limit than a $500. Don't really know.

@BrutalBodyShots, when my DW got her first Chase card ($500 limit), the banker told her that she can open another card in the future and transfer limits. I think that in her situation, it was better to wait to get other card and not apply for 2 cards with very low limits. So it depends on the profile. The HP will drop in 2 years, so for some is better to wait until you can have a SL high enough to be useful.